Why do Republicans think it's okay to bail out Wall Street but it's not okay to help hard working Americans who are the backbone of the economy?

Billions in tax breaks , billions in incentives, corporate welfare has reached an all-time high. The multi-billion dollar corporations like Amazon & Facebook who went 10 years, and 6 years, without paying a dime. Instead they got tax rebates. Now, Amazon and Facebook wouldn't exist without hard working individuals. Amazon has taken advantage of all kinds of government incentives, not to mention using the USPS which is subsidized by the government wasn't intended to make billions of deliveries annually for a large corporation. These companies would not exist without corporate welfare and without our infrastructure that is paid for by the taxpayers and the same people who republicans criticize.

The 50 million Americans who are in debt because of overpriced college tuition, many of them victims of predatory lenders, are in fact tax payers. They're nurses and healthcare workers who put their lives in danger to help fight COVID. They're underpaid teachers... They're truck drivers, and blue collar road maintenance workers who work hard to keep this country going. They're the ones who deserve to be bailed out, not your billionaire corporate demigods.

This page is a permanent link to the reply below and its nested replies. See all post replies »

ElwoodBlues · M

The previous admin's PPP loan forgiveness was DOUBLE the student loan forgiveness; why do republicans ignore that fact???

During the previous administration, 10.2 million Paycheck Protection Program loans were forgiven or partially forgiven. With average forgiveness $72,000, that works out to $734 billion in loan forgiveness subsidies to business owners. Compare that with student loan forgiveness, a $300 billion program.

Why didn't the right-wingers get upset about that huge transfer of debt onto the backs of taxpayers?? Why don't they get upset about the decades long series of subsidies to farmers???

[quote]As of July 4 this year, 10.2 million PPP loans, introduced to support small businesses, had been fully or partially written off.

The first loans were authorized by the CARES Act in March 2020, which provided $350 billion of fully guaranteed funds.

In April 2020, another $310 billion was allocated via the Paycheck Protection Program and Health Care Enhancement Act. A further $285 billion came in the second stimulus package of December 2020.

The government's Pandemic Response Accountability Committee found that 97 percent of PPP loans were used to help fund payroll. The average amount of PPP loan forgiveness was $72,500.[/quote] [b]https://www.newsweek.com/what-ppp-loan-forgiveness-scheme-paycheck-protection-program-student-debt-1736775[/b]

Full disclosure: I've never had student loans; my wife paid hers in full.